 "Thyssenkrupp, Thyssenkrupp-Tata Steel merger, Europe")
Even while concerns regarding loss of jobs and opposition from politicians in Berlin continue, German steelmaker ThyssenKrupp and Tata Steel have agreed to form an equal joint venture that would create Europe’s second-largest steel firm, after ArcelorMittal.
The new entity — ThyssenKrupp Tata Steel — would be headquartered in Amsterdam, the Netherlands. The entity would have 21.3-million tonne (mt) capacity, sales of about €15 billion and a workforce of about 48,000 at 34 locations. The merger is, however, likely to lead to 4,000 people losing their jobs both on the production side and administration side.
According to agency reports,
